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Phoenix & Southwest  + Southwest  + Industrial  |  December 20, 2024
AEW pay $54M for LV warehouse
Mike Boyd
By: Mike Boyd

AEW Pays $54.3M for LV Warehouse

AEW Capital Management paid $54.3 million for IDV Speedway, a 349,875-square-foot Class A industrial property in Las Vegas. JLL worked on behalf of the seller, Investment & Development Ventures.

IDV Speedway came online in the first quarter of this year at 5150 N. Sloan Lane. Commercial Edge reports Investment & Development Ventures had acquired the 19-acre development site in 2022 for $12.4 million.

Currently vacant, the one-story building includes an approximately 4,200-square-foot office component. Furthermore, the property features an additional 1.5-acre site for extra parking spaces.

The industrial asset is in the North Las Vegas submarket, in an area with tenants such as FedEx, Amazon, Prologis, DHL and Lowe’s.

JLL’s Mark Detmer, Rob Lujan and Jason Simon with the firm’s Las Vegas Markets Team, led negotiations on behalf of the seller.

Read More News Stories About: JLL
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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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